Rcapital is committed to developing talent within its portfolio business. This investment in people was pivotal in the turnaround of Trios Facilities Management, a company acquired by Rcapital in 2020. This business was once neglected and facing severe operational and financial challenges. Thanks to the efforts of Kirsty Rich and Steve Alexander, and the wider Leadership Team, Trios rose to stability and success. Their journey provides insight into what Rcapital can achieve with its Management teams through recognising potential, offering mentorship, and making strategic appointments.
Trios was a distressed facilities management business when Rcapital acquired it during the height of the pandemic. The company was burdened by debt, ineffective systems, and a leadership void. At this point, Kirsty and Steve were operational leaders, with Kirsty looking after the Managed Services division, and Steve leading the account of a major High-Street Retailer. Each had P&L responsibility and had grown their teams and built strong relationships with their clients. . Rcapital recognised their talent and created opportunities for them to step up and help lead the company’s transformation.
Kirsty and Steve both began their careers at Trios in operational roles, where they developed a deep understanding of the business. However, it was Rcapital’s commitment to talent recognition and personal development that set them on their leadership trajectory. With mentorship from Nick Alexander, the chairman, Kirsty and Steve initially started attending board meetings, alongside finance operator Max Croce, before being asked to step up and formally become board directors . At the same point this was rewarded by being granted equity as they became key to improving the financial performance of the business, by reducing costs and improving efficiency. This trust in their capabilities empowered them to lead the remaining transformation and eventual sale of Trios, delivering substantial returns in the process.
Starting from a role in operations, Kirsty quickly moved through the ranks, contributing to the development of Trios’ proprietary CAFM system and more than doubling revenues in the managed services division. Her strategic focus and client-centric approach brought sustainable improvements across Trios. As a board member, she played a vital role in implementing cost reductions and margin improvements.
Steve initially served as an Account Director, managing key client relationships and transforming a struggling account into a profitable one. His resilience during crises, such as the cyberattack that wiped out the company’s systems, demonstrated his commitment to maintaining operational continuity. Later, as Operations Director, he led wider changes across the Facilities business, improving costs and margins and supporting the company’s sale in 2023.
Key Takeaways from the Turnaround
- Under Rcapital’s guidance, Kirsty and Steve fostered a culture of accountability, where every employee understood the business’s mission and their role within it.
- Their leadership emphasised transparency and visibility on financials, focusing on cash management and profit improvement as part of the daily operations.
- Kirsty and Steve worked to remove unnecessary complexities, empowering the team to solve issues directly and create a clear pathway for growth.
- By encouraging expertise and accountability, they helped build a team that was motivated, skilled, and aligned with the company’s transformation goals.
After Trios was sold, Kirsty and Steve facilitated the integration with its new owner, Arcus FM, before deciding to start their own facilities management business. Their vision centres around key principles they learned during the Trios turnaround—accountability, simplicity, and empowerment. Their journey with Trios shows how Rcapital’s investment in talented individuals can transform distressed companies, making a tangible impact on business outcomes.
Through recognising talent, providing mentorship, and elevating leaders from within, Rcapital creates value that extends beyond financial gains. For businesses considering partnership with Rcapital, Kirsty and Steve’s story demonstrates the lasting impact of investing in people who drive sustainable growth and leadership continuity.